Kur Uh Oh Dahh

BoJ stands pat, surprising substance addicted markets and JPY/USD slams higher.

jpyusd

This after we have noted the trend change in USD/JPY since early in the year.

usd.jpy

Other currencies vs. USD are following this road map as a USD-centric ‘inflation trade’ continues to look viable considering that the Fed rolled over again yesterday.*

* They re-jiggered a few words in the statement and the media parsed it to the nth degree.  But the Fed is promoting inflation and at least for now it appears that BoJ is standing down.  Interesting macro developments to say the least.

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